Xcuusdlong
ridethepig | Copper Driving China Capital Flows As you can see the strong relationship Copper has with Chinese equities, you will notice what has been the case for these final stages of the economic cycle, metals have been moving miles ahead of equities.
We got the floor set in Copper as widely expected all year:
Any dips now look competitive:
Copper has been allowed to outperform Gold:
Bulls need to reclaim the highs in Chinese Equities after the -10% leg:
A weaker USD will help reinstate a bullish outlook for Copper, support clearly seen at $2.715, then $2.675 - which I expect to hold.
Thanks for keeping the support coming with likes and as usual jump into the comments with your charts and views to open the conversation up for all!
"Top and Bottom Analysis" Copper (XCUUSD) by ThinkingAntsOk4H Vision Explanation:
- Price broke the Descending Trendline and started an up move.
- It has potential to go up towards the Major Resistance Zone at 2,96767, being careful with the Middle Support Zones.
- However, the Bearish Divergence on MACD could be anticipating a Pullback to the broken Resistance Zone that is now a Support Zone.
We are also long in our Weekly and Daily Vision.
Weekly Vision:
Daily Vision:
XCU/USD - Copper - Looking good for a push higher upXCU/USD is looking good for a push higher up.
It has broken the 50 and 200 EMA on the 8H chart and is looking strong. Put your SL under the 50 EMA.
As long as the 50 EMA on the 8H chart acts strong as support, the long move is active.
We can expect Copper to continue its bullish trend higher up.
Trade safe.
Copper Long- Breaking downtrend (purple line)
- I am a buyer at confirmed breakout of first Retracement level (yellow line)
- Volume Profile suggest we could see the price move from current levels to 2.83 and even 2.9 with little resistance (according to 1D volume profile)
- This kind of attempted breakout, seems to common amongst the commodities complex.
Counters:
- as always, short squeeze
- DXY strengh
- continued CNY/CNH weakness
XCUUSD: Copper Waiting for an Imperious Flare-up
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